BTC.com News Digest: Schnorr signatures, Riyadh embraces blockchain, South Korea, Bank of Thailand, United Nations’s new panel about “Digital Cooperation”
16th of July 2018, read the highlights of the latest cryptocurrency and blockchain news.
Staying up to date with all the latest crypto news can be overwhelming. Screening through Reddit’s home page, Twitter’s feed and keeping up with your favorite Youtuber can be tiresome. Just sit back with a cup of coffee, we’re here to digest some of the top crypto news of the week for you.
While daily updates are being made to the bitcoin protocol, developers are now setting their radar to bitcoin’s next Bitcoin Improvement Proposal (BIP). This BIP is all about Schnorr signatures, which allow multiple signatures to be combined into a single signature. The combined signature has the size of a single signature, but preserves the authorization of the original separate signatures. This upgrade has the potential to address privacy and scalability issues, and can be the largest code change since Segregated Witness (SegWit).
Are you excited for Schnorr signatures? ?
The municipality of Riyadh (capital and most populous city in Saudi Arabia) has decided to partner with the US electronics giant IBM, to jointly develop and implement blockchain technology for government services and transactions. The goal of this ambitious partnership is to relocate governmental transactions and services for citizens onto the blockchain.
Blockchain is definitely on Saudi Arabia’s roadmap, which takes us one step closer towards mass adoption of cryptocurrencies and blockchain.
Riyadh is embracing blockchain. Is your local government also thinking about blockchain applications? ?
South Korean regulators have vowed last Friday to introduce blockchain friendly investment legislations, by redesigning corporate investments to promote job creation and to support new technologies. The new policies have been recommended by a private-public task force called “Growth Through Innovation”. At the beginning of this year, South Korea went through a significant backlash over its cryptocurrency regulations. South Korean regulators are now adopting a more flexible and positive mindset towards cryptocurrencies.
What kind of legislations are your policy makers drafting in regards to blockchain and cryptocurrencies?
The Governor of the Bank of Thailand (BoT) restated their commitment towards blockchain technology for various applications, while giving a speech at the the Bloomberg ASEAN Business Summit on July 12th. The bank is specifically reviewing blockchain applications for cross-border payments, supply chain financing, and document authentication. They believe that blockchain could also play an important role in reducing fraud and in protecting financial information.
Has your local bank also decided to embrace blockchain technology? ?
A high-profile group of experts has been assembled last week at the request of United Nations Secretary-General António Guterres, tasked with putting the benefits of digital technology to more effective use, while protecting against unwanted or unexpected negative impacts. This high level panel on Digital Cooperation, will be co-chaired by US philanthropist Melinda Gates and China-based Alibaba founder Jack Ma. During their nine months mandate, these 20 experts will have to map trends in digital technologies, identify gaps and opportunities, and outline proposals for strengthening international cooperation.
What do you think about a high level panel to research digital technologies in order to strengthen international cooperation?
Check out the original article here.
Author: Eléonore Blanc